UPDATE: Auriga Downgrades United Therapeutics to Hold

Auriga is out with its report today on United Therapeutics UTHR, downgrading UTHR to Hold from Buy. In its report, Auriga writes, "While UTHR's core franchise appears steady, the oral Remodulin combination failure complicates UTHR's regulatory and commercial outlook and removes most of the long term upside potential (2013 and beyond). As such, we are downgrading to Hold and lowering our price target to $45 from $90." At the time of posting, shares of UTHR were trading pre-market at $40.20, up 0.73% from Wednesday's close.